Grayscale Investments has announced the launch of four new single-asset cryptocurrency investment trusts for bitcoin cash, ether, litecoin, and ripple. The company already manages three other single-asset crypto trusts for bitcoin, ethereum classic, and zcash, in addition to a recently-launched crypto large-cap fund.

We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it.

In an interview with Bloomberg, he reiterated that “There will be more offerings coming from the Grayscale family this year,” adding that some will focus on single currencies while others may hold several coins.

Established in 2013 by Digital Currency Group, Grayscale Investments had $2.1 billion in assets under management as of February 28. Prior to today’s announcement, the company was already managing three other cryptocurrency trusts: Bitcoin Investment Trust, Ethereum Classic Investment Trust, and Zcash Investment Trust.

Furthermore, Grayscale announced the launch of its Digital Large Cap Fund last month which invests in BTC, ETH, XRP, BCH, and LTC. The company’s founder and CEO, Barry Silbert, commented at the time, “We’re excited to further expand the universe of Grayscale’s product offerings as interest in the digital currency asset class continues to grow.”

Investing in Grayscale’s Crypto Trusts

Each Grayscale trust’s investment objective is for its shares to reflect the value of the cryptocurrency it holds, “as determined by reference to the Tradeblock index for each digital asset at 4:00 p.m. New York time, less each Trust’s expenses and other liabilities,” the company explained.

According to Grayscale’s website, each of the four new trusts has an annual fee of 2.5%. At inception, the BCH trust has $6.26 million in asset under management, the ETH trust $30.73 million, the LTC trust $495,519, and the XRP trust $490,487.

These trusts are private placements, available only to accredited investors, as defined by Rule 501(a) of Regulation D of the U.S. Securities Act, Grayscale detailed, adding that they do not currently operate a redemption program.” In accordance with Rule 144 under the same act, the company further noted that:

Each Trust’s shares are subject to a one-year holding period…before they can be resold without restriction.

Do you think many investors will be interested in Grayscale’s new investment trusts? Let us know in the comments section below.

Amidst the ongoing cryptocurrency bear market, stablecoins have continued to gain prominence, with USDT currently comprising the dominant pairing for… read more.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

In Case You Missed It

Meet Memopay, the Bitcoin Cash Advertising Model That ‘Pays for Attention’. There’s a different kind of advertising taking place on the Bitcoin Cash (BCH) network, using an application called Memopay… read more.

The Bitcoin.com Wallet: Available on all platforms

Download the Bitcoin.com Wallet right to your device for easy and secure access to your bitcoins. Perfect for beginners, the Bitcoin.com Wallet makes using and holding bitcoins easy. No logins required.